PPT-The Production Possibility Curve

Production Possibility Frontier PPC The PPC is a visual representation of the various output combinations that an economy can produce between 2 AND ONLY 2 goodsservices This is a visual representation of a TRADEOFF and OPPORTUNITY COST. The . Production Possibility Curve. 1. 2. What you will . learn in . this Module:. Trade-offs are important in economic analysis. The production possibilities curve model reveals about the economy (efficiency, opportunity cost, and economic growth). powerpoints. How to print the text of . powerpoints. for note-taking. If you don’t have access to . powerpoint. or have trouble opening or printing files. —let me know! I can send you the material as . Graphing the Combinations of Production for Two Goods or Services. Shows all of the possible combinations of two goods or services that can be produced within a stated time period, given two very important assumptions:. An acronym to help you cite textual evidence well. “ ” “ ” “ ” “ ” “ ” “ ” “ . What does R.A.I.C.E. stand for?. R = Restate the question. A = Answer the question. I = Introduce your quote. This curve demonstrates the tradeoff of production possibilities between two products. . Y Axis. X Axis. Production Possibilities Curve. Each point on the curve represents what is possible in the production of the two products. Notice that the curve is inverse: adding to one side means less of the other . negotiating participatory . visual . processes towards community emergence. Jacqueline Shaw, Graham Jeffery and Kerrie . Schaefer (. apols. for absence!). From ground level insight to global policy influence. An acronym to help you cite textual evidence well. “ ” “ ” “ ” “ ” “ ” “ ” “ . What does R.A.I.C.E. stand for?. R = Restate the question. A = Answer the question. I = Introduce your quote. Congresso. . Brasileiro. de . Sistemas. Fuzzy. Sorocaba, . Brasil. 9 de . novembro. , 2010. Weldon A. . Lodwick. and . Oscar Jenkins. University of Colorado Denver. Department of Mathematical and Statistics Sciences . 1. Scarcity. 2. Scarcity. Resources are scarce. You can’t always get what you want so everyone must make choices.. Choices can be dependent on money but also time.. Why do individuals have to make choices? . La gamme de thé MORPHEE vise toute générations recherchant le sommeil paisible tant désiré et non procuré par tout types de médicaments. Essentiellement composé de feuille de morphine, ce thé vous assurera d’un rétablissement digne d’un voyage sur . Would you rather…. Study or go to the movies?. Eat a salad or French fries?. Buy a new phone or a new outfit?. How do you decide?. Economics. The study of scarcity and choice.. Economists ask: How do we satisfy our needs and wants by making choices?. 11 ModalityModality is the study of possibility and necessity These concepts are intuitive enough PossibilitySome things could have been different For instance I could have been a truck driver Britain Behind the Supply Curve. Profit . Profit = Total Revenue – Total Cost. Primary goal of a firm is to maximize profit. Can be done in two ways. Increase revenue. Reduce costs. What types of costs exist?. A clause is a group of words that contains a . subject. and . predicate. . It forms a part of a sentence.. If a clause . makes complete sense in itself. , it is called the . Main Clause. or . The Principal Clause.